Aspen Technology’s (AZPN) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Aspen Technology (NASDAQ:AZPN) in a research note issued to investors on Wednesday, RTT News reports. They currently have a $131.00 target price on the technology company’s stock.

Several other brokerages also recently weighed in on AZPN. BidaskClub raised shares of Aspen Technology from a buy rating to a strong-buy rating in a research note on Friday, April 26th. Zacks Investment Research downgraded shares of Aspen Technology from a buy rating to a hold rating in a research note on Monday, May 6th. Benchmark reaffirmed a buy rating and set a $133.00 price objective (up previously from $113.00) on shares of Aspen Technology in a research note on Wednesday, May 8th. Canaccord Genuity upped their price objective on shares of Aspen Technology from $110.00 to $126.00 and gave the company a buy rating in a research note on Thursday, April 25th. Finally, Bank of America raised shares of Aspen Technology from an underperform rating to a neutral rating and upped their price objective for the company from $88.00 to $116.00 in a research note on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $117.25.

Shares of AZPN stock opened at $116.05 on Wednesday. Aspen Technology has a twelve month low of $74.84 and a twelve month high of $124.96. The stock has a market capitalization of $8.00 billion, a P/E ratio of 41.59 and a beta of 1.61.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. Aspen Technology had a net margin of 37.25% and a return on equity of 76.36%. The firm had revenue of $148.00 million during the quarter, compared to the consensus estimate of $136.38 million. During the same quarter in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Equities analysts expect that Aspen Technology will post 3.26 earnings per share for the current fiscal year.

In other news, CEO Antonio J. Pietri sold 5,900 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $118.81, for a total transaction of $700,979.00. Following the completion of the transaction, the chief executive officer now owns 207,497 shares of the company’s stock, valued at approximately $24,652,718.57. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP F G. Hammond sold 8,406 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $121.34, for a total transaction of $1,019,984.04. Following the transaction, the vice president now directly owns 24,221 shares of the company’s stock, valued at approximately $2,938,976.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,692 shares of company stock valued at $9,286,123. Corporate insiders own 0.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in Aspen Technology by 9.0% during the 4th quarter. Legal & General Group Plc now owns 136,713 shares of the technology company’s stock worth $11,235,000 after purchasing an additional 11,248 shares in the last quarter. Vanguard Group Inc increased its position in Aspen Technology by 5.5% during the 3rd quarter. Vanguard Group Inc now owns 6,996,441 shares of the technology company’s stock worth $796,965,000 after purchasing an additional 362,193 shares in the last quarter. Stifel Financial Corp increased its position in Aspen Technology by 0.4% during the 4th quarter. Stifel Financial Corp now owns 107,233 shares of the technology company’s stock worth $8,828,000 after purchasing an additional 396 shares in the last quarter. Standard Life Aberdeen plc increased its position in Aspen Technology by 5.2% during the 4th quarter. Standard Life Aberdeen plc now owns 565,805 shares of the technology company’s stock worth $45,830,000 after purchasing an additional 28,091 shares in the last quarter. Finally, First Manhattan Co. increased its position in Aspen Technology by 102.7% during the 1st quarter. First Manhattan Co. now owns 4,054 shares of the technology company’s stock worth $422,000 after purchasing an additional 2,054 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

Aspen Technology Company Profile

Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.

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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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